Competition Bureau Investigation: How Should Corporations Respond?
It’s no secret that there has been a significant rise of condominium living in Canada, particularly in the Greater Toronto Area. It is estimated that three-quarters of all new homes purchased in the GTA are condominiums. The increase in number of these kinds of properties in Toronto, as well as throughout Ontario, has prompted much reform to the industry, including recent revisions to the Condominium Act, 1998. Another development occurred in May this year, when the Competition Bureau ordered 141 condominium boards across the GTA to disclose records relating to renovation contracts. Competition Bureau spokesperson Marie-France Faucher told reporters that the bureau is looking into “allegations of bid-rigging and conspiracy in the supply of condominium refurbishment services in the Greater Toronto Area”. Both bid-rigging and conspiracy are criminal offences under the Competition Act. The investigation is interested in renovations going as far back as August 2006, for projects in common areas such as lobbies, parking garages and washrooms. Read the article…………
Timely collection of common expenses by condominium corporations is essential to the safeguard of their financial viability. For this reason,
With ethics and governance being such a hot topics in the corporate and political world, you won’t be surprised to
Over the course of 2013 it came to the attention of the Real Estate Council of British Columbia(“RECBC”) that the